Sympathy for Wigan’s plight
As we totter on the edge of administration ourselves we should have every sympathy for Wigan’s fans and players after the Latics became the first professional club in England to fall into administration during the Covid-19 crisis.
It looks to me like another case of a murky and obscure flipping of control of a football club. Our friends at the EFL look culpable again after approving the takeover just last month by an entity called New Leader Fund (NLF) from a Hong Kong operation called International Entertainment Corporation (IEC), a Cayman Islands-registered company which owns a hotel and casino in the Philippines.
Yesterday the new majority owner Wai Kay Au Yeung called in the administrators which means that Wigan who have been a fantastic run of form pre and post lockdown will take a 12-point penalty, which automatically applies to any insolvency event. A decision is then taken at the end of the season whether it will apply this season or next. Such penalties are applied in a following season only if a club is already relegated.
Honestly makes me shudder and you know Wigan won’t be the last club, whilst many others hide behind some clever financial accounting.
A penny for David Whelan’s thoughts.